OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD holds on above 1.6000

FXStreet (Edinburgh) - The sterling is struggling to keep the trade above the psychological mark at 1.6000 on Wednesday, with GBP/USD now hovering over 1.6010/15.

GBP/USD depressed by FOMC

The more hawkish-than-expected statement by the FOMC triggered a sharp sell off in the risk-associated universe, hurting the pound (amongst others) and dragging the pair to visit last Friday’s troughs near 1.6000 the figure. Moving forwards to tomorrow’s docket, housing prices gauged by Nationwide are only due in the UK while the US GDP Annualized during the third quarter and Yellen speech afterwards will rule the price action.

GBP/USD levels to watch

As of writing, the pair is losing 0.68% at 1.6020 facing the next support at 1.6000 (psychological level). On the other hand, a surpass of 1.6182 (high Oct.28) would open the door to 1.6186 (high Oct.21).

US Stocks fall on Fed language

The equity markets in the US have weakened along with the rise in the US Treasury yields after the Federal Reserve ended the QE program, while sounding upbeat about the US economy.
Read more Previous

EUR/ISD remains offered near 1.2640

The selling mood prevails around EUR/USD at the end of the US session on Wednesday, now looking to stabilize in the vicinity of 1.2640....
Read more Next
Start livechat